The impact of the Chinese economic slowdown was highlighted on Thursday by data showing that German exports for August marked their sharpest decline since the height of the global financial crisis. While today may see a gap up opening as Commodities giant Glencore said on Friday (Oct 9) it will cut 500,000 tonnes of zinc production, or around 4 per cent of global supply, in its latest move to withstand weak commodities prices.
Trading Ideas:
Zinc trading range for the day is 107-110.8.
Zinc dropped as market continues to disappoint currently as deficit fails to materialise again despite mine closures.
The impact of the Chinese economic slowdown was highlighted by data showing that German exports for August marked their sharpest decline.
Zinc daily stocks at Shanghai exchange came up by 275 tonnes.
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Trading Ideas:
Zinc trading range for the day is 107-110.8.
Zinc dropped as market continues to disappoint currently as deficit fails to materialise again despite mine closures.
The impact of the Chinese economic slowdown was highlighted by data showing that German exports for August marked their sharpest decline.
Zinc daily stocks at Shanghai exchange came up by 275 tonnes.
For More Information : Bullion Tips, McxTrading Tips, Mcx Tips, Commodity Market Tips,Bullion Trading Tips,mcx market tips,Mcx Trading Tips,commodity tips,Commodity market tips
Zinc dropped on global growth worries and amid a Chinese clampdown on commodity futures trading as estimated by Epic Research. We have a qualified team for market recommendation.
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